Kintra Wealth LLC Takes $530,000 Position in Range Resources Corporation $RRC

Kintra Wealth LLC purchased a new position in Range Resources Corporation (NYSE:RRC) during the 2nd quarter, HoldingsChannel reports. The fund purchased 13,285 shares of the oil and gas exploration company’s stock, valued at approximately $530,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in RRC. Empowered Funds LLC boosted its stake in Range Resources by 2.1% during the first quarter. Empowered Funds LLC now owns 75,851 shares of the oil and gas exploration company’s stock valued at $3,029,000 after buying an additional 1,563 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Range Resources by 1.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 466,796 shares of the oil and gas exploration company’s stock worth $18,639,000 after purchasing an additional 8,816 shares during the last quarter. Focus Partners Wealth purchased a new stake in Range Resources in the first quarter valued at approximately $285,000. EverSource Wealth Advisors LLC raised its stake in Range Resources by 63.5% in the second quarter. EverSource Wealth Advisors LLC now owns 2,932 shares of the oil and gas exploration company’s stock valued at $119,000 after purchasing an additional 1,139 shares in the last quarter. Finally, California Public Employees Retirement System lifted its position in Range Resources by 8.0% during the second quarter. California Public Employees Retirement System now owns 410,651 shares of the oil and gas exploration company’s stock valued at $16,701,000 after purchasing an additional 30,481 shares during the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Wall Street Analyst Weigh In

RRC has been the topic of a number of research analyst reports. Weiss Ratings lowered shares of Range Resources from a “buy (b-)” rating to a “hold (c)” rating in a report on Thursday, July 23rd. Morgan Stanley reduced their target price on shares of Range Resources from $44.00 to $43.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 19th. Wells Fargo & Company lowered their price objective on Range Resources from $46.00 to $45.00 and set an “equal weight” rating for the company in a research report on Thursday, July 23rd. Susquehanna dropped their target price on shares of Range Resources from $45.00 to $41.00 and set a “neutral” rating for the company in a report on Tuesday, July 21st. Finally, Truist Financial cut their price target on shares of Range Resources from $46.00 to $43.00 and set a “hold” rating on the stock in a report on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $43.75.

Insider Activity at Range Resources

In other news, Director Reginal Spiller sold 3,500 shares of the stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $40.00, for a total value of $140,000.00. Following the transaction, the director owned 13,421 shares in the company, valued at $536,840. This represents a 20.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is owned by insiders.

Range Resources Price Performance

Shares of NYSE:RRC opened at $41.96 on Tuesday. The business has a fifty day moving average price of $39.21 and a 200-day moving average price of $40.51. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.65 and a quick ratio of 0.65. The company has a market capitalization of $9.81 billion, a PE ratio of 11.59 and a beta of 0.43. Range Resources Corporation has a 1-year low of $32.68 and a 1-year high of $48.31.

Range Resources (NYSE:RRC) last announced its quarterly earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.13. The company had revenue of $759.58 million for the quarter, compared to analysts’ expectations of $744.78 million. Range Resources had a net margin of 25.04% and a return on equity of 18.63%. Range Resources’s revenue was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.66 EPS. As a group, equities analysts expect that Range Resources Corporation will post 3.62 EPS for the current fiscal year.

Range Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Friday, September 11th. Range Resources’s payout ratio is currently 11.05%.

About Range Resources

Range Resources Corporation, headquartered in Fort Worth, Texas, is an independent energy company engaged in the exploration, development and production of natural gas, oil and natural gas liquids. The company focuses its core operations on the Appalachian Basin, with a significant presence in Pennsylvania’s Marcellus Shale. Through its drilling and completion activities, Range Resources seeks to optimize production efficiency while maintaining a disciplined approach to capital allocation and cost management.

The company’s technical expertise centers on advanced horizontal drilling and hydraulic fracturing techniques, which it applies to unlock unconventional resources.